ELK Corporation (KOSDAQ:A094190) announced a private placement of 12th series unregistered unguaranteed private convertible bond for gross proceeds of KRW 1,300,000,000 on August 16, 2018. The transaction included participation from individual investors, Jongkoo Jung for KRW 700,000,000 and Seungeon Lee for KRW 600,000,000. The bonds do not carry any coupon. The bonds will mature on August 16, 2022. The bonds are 100% convertible at fixed conversion price of KRW 970 per share into 1,340,206 shares. The conversion period will start on August 16, 2019 and will end on July 16, 2022. The transaction has been approved by the board of directors of the company.